Citi India reduces home loan rates by 0.7% to 8.80%; effective January 9

In a bid to provide competitive housing loan interest rates to home buyers, Citi India announced revision of its home loan rate by 0.7% on Friday. 

The bank will reduce its home loan rate to 8.80% from the existing 9.50% with effect from January 9 this year, Citi India said in press release.

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“The reduction in the home loan rate is reflective of our commitment to consumers who may be interested in purchasing under-construction or ready-to-move-in property,” Citi India head of secured lending Rohit Ranjan, said in a release. 

The final pricing on the loan will be based on the loan amount, product or facility type offered, and internal Citi loan risk assessment parameters, it added. 

Citi India is a private sector bank in the country and is a subsidiary of Citigroup, a multinational financial services corporation headquartered in New York City of United States (US). 

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